McCain is full of BS. Naked short selling has been illegal for years. And if they want to catch the naked shorts, then they should tear open the books of the investment banks and hedge funds. There’s a story out today that Lehman is suspicoiusly unable to find some stock certificates. Hmmm, might it just be because...they never had them ?
I’ll see if I can find the link.
This is why neither presidential candidate is a solution. Neither one has a clue.
Besides if you ban the shorts who have borrowed shares, then you get what Shanghai has - 71% down so far this year. No bid.
naked shorts need to be banned. regular shorts do not. alot of the naked shorting is happening from europe and the middle east and it puts companies into a death spiral as there is NO requirement to borrow the shares. and these hedge funds play a scam game with the FTD (fail to deliver) by shifting the shorter from hedge fund to hedge fund and allow the 3 days rule to start all over again each time.
I’m glad naked shorting is finally being seriously looked at.